By: Eric Althaus
28th March, 2022

In occasion of this year’s Formula 1 Grand Prix edition, Eric Althaus (CEO of Althaus Luxury Yachting) travelled to Jeddah – a Saudi Arabian port city on the Red Sea, as well as a modern commercial hub and gateway. 

Jeddah is of course already known in people’s mind, being the city hosting one of the most spectacular Formula 1 circuits. Her lights at night and the race track make this event truly unique. The 2022 Saudi Arabian Grand Prix took place at the beachside Corniche area, about 20km north of the city centre.

Two of the fastest racers of their generation, Max Verstappen and Charles Leclerc, put on an epic display for the fans at the Saudi Arabian Grand Prix, competing with each other lap after lap for supremacy around the Jeddah Corniche Circuit.

With Charles Leclerc having hit the front after a Safety Car moved early leader Sergio Perez out of the way, Verstappen closed up to the Monegasque on Lap 42 of 50. The two leaders ducked and dived around each other to keep the advantage until the end.  It was a superb and emotional display for the fans– but ultimately it was Verstappen who took the lead and won this astonishing race.

Jeddah and its new economic developments

From the standpoint of economic developments in Jeddah, recent investments have been approved with the aim to transform the city in a lifetime business opportunity for many international entities.

This colossal project, which will terminate in 2030, will include an opera House, museum, sports stadium and oceanarium, as well as 17,000 residential units, hotel projects that offer more than 2,700 keys, and ‘integrated solutions’ for the business sector.

For the yachting industry, the Jeddah Central Project will also host a brand new Yacht Club, as well as a marina and beach resorts, surrounded by restaurants, cafes and shopping options. The waterfront will extend 9.5km long with a promenade and a 2.1km long beach. Open spaces and public services will make up 40 per cent of the total project area, with designated walking areas.

The project’s masterplan also considers the application of new technologies to transform Jeddah into a “smart destination”, with sustainable and eco-friendly solutions to be implemented.


Eric Althaus